UPDATE: Cliffs Natural Resources (CLF) Rises Despite Downgrade by Credit Suisse to Underperform

September 5, 2012 6:43 AM EDT Send to a Friend
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Price: $10.50 +2.74%

Rating Summary:
    3 Buy, 14 Hold, 10 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 27 | Down: 26 | New: 17
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(Updated - September 5, 2012 10:16 AM EDT)

Shares of Cliffs Natural Resources (NYSE: CLF) are higher early Wednesday despite a convincing downgrade of the stock.

Credit Suisse downgraded from Neutral to Underperform and cut its price target from $50 to $30. In its downgrade, Credit Suisse noted the massive exposure to iron ore, which has seen prices fall 35% in the last two months.

For an analyst ratings summary and ratings history on Cliffs Natural Resources click here. For more ratings news on Cliffs Natural Resources click here.

Shares of Cliffs Natural Resources are rising despite the downgrade, last up 1.8 percent to $34.30.


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